Company News

Larsen & Toubro announced that the Company's Hydrocarbon Division has bagged a major pipeline contract with a value of close to Rs 1700 crore from Kuwait Oil Company for engineering, procurement and construction of a new 48' crude transit line (TL-5) from North Kuwait to Ahmadi. The completion of the project is scheduled in the third quarter of 2020.

The announcement was made during market hours today, 20 September 2017.

Meanwhile, the S&P BSE Sensex was up 7.02 points, or 0.02% to 32,409.39.

On the BSE, 54,181 shares were traded in the counter so far, compared with average daily volumes of 5.85 lakh shares in the past one quarter. The stock had hit a high of Rs 1,249.95 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,229.95 so far during the day. The stock had hit a 52-week low of Rs 863.54 on 9 November 2016.

The stock had outperformed the market over the past one month till 19 September 2017, gaining 8.44% compared with 2.78% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 4.86% as against Sensex's 3.48% rise. The scrip had also outperformed the market in past one year, gaining 24.28% as against Sensex's 13.16% rise.

The large-cap company has equity capital of Rs 280.11 crore. Face value per share is Rs 2.

L&T said that its hydrocarbon division has bagged a major pipeline contract with a value close to Rs 1700 crore from Kuwait Oil Company (KOC) for engineering, procurement and construction of a new 48'' crude transit line (TL-5) from Kuwait to Ahmadi.

The completion of the project is scheduled for the third quarter of 2020. The order was won against stiff international competitive bidding which reinforces L&T's unique capability to deliver ‘design to build' engineering and construction solutions across the hydrocarbon spectrum.

L&T is currently executing the Gathering Centre-30 (GC-30) project for Kuwait Oil Company. The company has been serving the onshore hydrocarbon sector since early 90s. The company's track record includes successful completion of several challenging projects for domestic and international clients, it added.

The Construction arm of Larsen & Toubro has won orders worth Rs 2525 crore across various business segments. The metallurgical and material handling business has bagged orders worth Rs 2271 crore in the domestic market. Other business segments of L&T Construction have won orders worth Rs 254 crore.

The announcement was made before market hours today, 12 September 2017.

Meanwhile, the S&P BSE Sensex was up 99.75 points, or 0.31% to 31,981.91.

On the BSE, 48,591 shares were traded in the counter so far, compared with average daily volumes of 5.82 lakh shares in the past one quarter. The stock had hit a high of Rs 1,231.95 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,219 so far during the day. The stock had hit a 52-week low of Rs 863.54 on 9 November 2016.

The stock has gained 9.3% in four sessions to its ruling price, from a close of Rs 1,117.95 on 6 September 2017.

The stock had outperformed the market over the past one month till 11 September 2017, gaining 7.42% compared with 2.14% gains in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.74% as against Sensex's 1.98% rise. The scrip had also outperformed the market in past one year, gaining 20.14% as against Sensex's 10.71% rise.

The large-cap company has equity capital of Rs 280.11 crore. Face value per share is Rs 2.

Larsen & Toubro announced that its subsidiary L&T IDPL has filed an application for registration of its proposed infrastructure investment trust, named IndInfravit Trust with SEBI on 01 September 2017.

The Construction arm of Larsen & Toubro has won orders worth Rs 1975 crore across various domestic segments. These include orders received under the power transmission and distribution business worth Rs 1331 crore in the domestic and international markets.